2. For example, the McKinsey Global Institute Report, September 2015, “The power of parity: How advancing women’s equality can add $12 trillion to the global economy.” WHAT WE BELIEVE: A HOLISTIC APPROACH At CHANEL, we believe that women’s empowerment and gender equality are not only a question of equal rights, but are also a key condition to global progress and represent a huge opportunity for growth and prosperity. Many studies have shown that societies, companies, and communities promoting gender equality are more free, peaceful, stable, and fair, and lead to more prosperous and dynamic economic models. 2 OUR APPROACH For over seven years, Fondation CHANEL has been committed to supporting social purpose organizations working to improve the social and economic conditions of women throughout the world. This mission resonates with CHANEL and leads to a systematic integration of this issue into our work and long-term vision. By giving grants to nonprofit organizations, Fondation CHANEL provides long-term support to women and girls in vulnerable situations and helps them reach the first step on the development ladder. Fondation CHANEL promotes the following: • Access to economic resources and entrepreneurship (including microfinance). • Access to education and vocational training. • Access to leadership and decision-making. • Access to health and social protection services. • The use of culture, information, and technology as a means for social integration. • The strengthening of women’s organizations, funds, and networks. Since 2011, Fondation CHANEL has expanded significantly. Since its inception, it has supported more than 60 projects in 35 countries, with a global commitment of $20.5 million. Over the next five years, we plan on investing over $120 million in advancing the role of women in society. Thanks to its concrete and measurable impact, Fondation CHANEL has gained international recognition in its field through strategic partnerships with UN Women and the OECD.